Source: www.investing.com
On Thursday Euro/Dollar continued increasing with almost 80 pips. The European currency appreciated from 1.3541 to 1.3619 yesterday, matching the positive money flow sentiment at nearly +24%, closing the day at 1.3574. This morning the Euro surged even further, climbing to 1.3634.
On the 1 hour chart the upward channel has renewed, while on the 3 hour chart the upward channel looks good. Break above the nearest resistance and today's top at 1.3634 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3541, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3427.
Today's focus is on Italy, France, Germany, and EU17 PPI, EU17 Harmonized CPI and Unemployment, and US Nonfarm payrolls, Unemployment, Average hourly earnings and workweek, Michigan sentiment index, ISM Manufacturing PMI, and Construction spending, at 8:45, 8:50, 8:55, 9, 10, 13:30, 14:55 and 15 GMT respectively.
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